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Mayte Torres | Moment | Getty Images The Covid-19 pandemic helped shed light on the need for increased access to paid leave for U.S. workers. Yet more than two years into the pandemic, there are still gaps in access to those benefits. That leaves many workers vulnerable to financial hardships, a new report from the…
And-one | Istock | Getty Images With credit card debt on the rise, as Americans’ budgets are squeezed from inflation and interest rates tick up, many people may be eager for ways to reduce their balances. One place they may look is to their retirement accounts — and specifically their 401(k) plan. Many people have…
The Good Brigade | DigitalVision | Getty Images As the Federal Reserve again raises interest rates to combat soaring inflation, some advisors are shifting clients’ investment portfolios. The central bank on Wednesday enacted its second consecutive three-quarters of a percentage point interest rate increase, aiming to curb rising prices without triggering a recession. The move…
AJ Watt | Getty Images As many Medicare beneficiaries know, having a doctor’s appointment via video on a laptop or tablet became standard when the pandemic hit. That method of delivering remote care — known as telehealth — to many retirees and most people in the over-65 crowd may have some staying power, at least…
Paul Bradbury | Ojo Images | Getty Images Federal student loan servicers have been told to hold off on sending out payment reminders to borrowers, according to two sources familiar with the matter. The development suggests the Biden administration could be considering extending the pandemic-era payment pause on federal student loans yet again. The policy,…
Activists participate in a rally urging the expansion of Social Security benefits in front of the White House July 13, 2015. Getty Images Two Washington Democrats — Sen. Mazie Hirono of Hawaii and Rep. Ted Deutch of Florida — teamed up last week to reintroduce legislation to strengthen Social Security. Their bill, the Protecting and…
Higher prices have taken a toll. In an economy that has produced the highest inflation rate since 1981, Americans are struggling to keep up with expenses and are putting less money aside for emergencies or long-term financial goals, several recent studies show. Nearly 40% of consumers cannot put any money at all into savings, according to a…
Twenty/20 The Biden administration is considering wiping out hundreds of billions of dollars in student debt. Its announcement could come as soon as next month. Why would the federal government relieve a large portion of the loans it gave out? These are some of the main reasons, according to experts. 1. A growing sense the…
Paul Burns | Getty Images Claiming Social Security retirement benefits early means locking in a lower benefit amount for life. Yet a recent survey of U.S. adults ages 26 and up by Nationwide Retirement Institute found that claiming early is exactly what many Americans are planning to do. The survey found 42% of respondents plan…
Glowimages | Glowimages | Getty Images It’s a good time to be an American traveling abroad. The value of the U.S. dollar has been at its strongest in years relative to many major global currencies of late— meaning travelers can buy more overseas than in the recent past. Put another way, Americans are effectively getting…
Like many Americans, you may be worried we are heading into a recession. More than 6 out of 10 Americans — 62% — believe there will be a recession in the next year, according to the latest CNBC All America Economic survey conducted in early July. Older Americans in their late 50s and beyond feel…
“My goal was to get money,” said Adekunle Adedeji, a former romance scammer from Nigeria who goes by the name Chris. While Adedeji, 23, did not pose as a “Nigerian prince,” he did tap another long running internet fraud: the romance scam. Using someone else’s photos found on Instagram and pretending to be an American…